American Century Companies Inc. Has $17.70 Million Stake in PROG Holdings, Inc. (NYSE:PRG)

American Century Companies Inc. lessened its stake in PROG Holdings, Inc. (NYSE:PRG - Free Report) by 39.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 418,884 shares of the company's stock after selling 267,834 shares during the period. American Century Companies Inc. owned about 1.01% of PROG worth $17,702,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in PRG. HB Wealth Management LLC increased its holdings in shares of PROG by 4.1% in the 4th quarter. HB Wealth Management LLC now owns 16,176 shares of the company's stock valued at $684,000 after acquiring an additional 631 shares during the last quarter. Wedge Capital Management L L P NC increased its stake in PROG by 0.9% during the fourth quarter. Wedge Capital Management L L P NC now owns 74,075 shares of the company's stock valued at $3,130,000 after purchasing an additional 658 shares during the last quarter. KBC Group NV raised its holdings in shares of PROG by 53.9% during the fourth quarter. KBC Group NV now owns 2,015 shares of the company's stock worth $85,000 after purchasing an additional 706 shares during the period. Smartleaf Asset Management LLC raised its holdings in shares of PROG by 141.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,208 shares of the company's stock worth $51,000 after purchasing an additional 707 shares during the period. Finally, Quarry LP boosted its holdings in shares of PROG by 162.9% in the 3rd quarter. Quarry LP now owns 1,517 shares of the company's stock valued at $74,000 after buying an additional 940 shares during the period. 97.92% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PRG has been the topic of a number of recent research reports. Stephens reissued an "overweight" rating and issued a $60.00 target price on shares of PROG in a report on Thursday, January 2nd. Jefferies Financial Group downgraded PROG from a "buy" rating to a "hold" rating and cut their price target for the stock from $58.00 to $29.00 in a report on Wednesday, February 26th. Two analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $49.00.

PROG Price Performance

Shares of PRG traded down $0.68 during mid-day trading on Friday, hitting $25.07. The company's stock had a trading volume of 718,806 shares, compared to its average volume of 441,388. The stock has a market capitalization of $1.02 billion, a price-to-earnings ratio of 5.52 and a beta of 1.96. PROG Holdings, Inc. has a fifty-two week low of $23.78 and a fifty-two week high of $50.28. The company has a debt-to-equity ratio of 0.99, a current ratio of 5.24 and a quick ratio of 2.34. The firm has a 50-day moving average price of $32.72 and a 200 day moving average price of $41.13.

PROG (NYSE:PRG - Get Free Report) last announced its earnings results on Wednesday, February 19th. The company reported $0.80 EPS for the quarter, beating the consensus estimate of $0.77 by $0.03. PROG had a return on equity of 24.25% and a net margin of 8.01%. The business had revenue of $623.30 million during the quarter, compared to the consensus estimate of $612.67 million. During the same period in the prior year, the business posted $0.72 earnings per share. PROG's revenue was up 7.9% compared to the same quarter last year. On average, research analysts predict that PROG Holdings, Inc. will post 3.45 EPS for the current fiscal year.

PROG Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 25th. Shareholders of record on Thursday, March 13th were given a dividend of $0.13 per share. The ex-dividend date of this dividend was Thursday, March 13th. This is a positive change from PROG's previous quarterly dividend of $0.12. This represents a $0.52 dividend on an annualized basis and a yield of 2.07%. PROG's dividend payout ratio (DPR) is presently 10.57%.

Insider Activity

In other news, Director Douglas C. Curling bought 10,000 shares of the stock in a transaction on Friday, February 21st. The shares were purchased at an average price of $29.88 per share, for a total transaction of $298,800.00. Following the completion of the purchase, the director now directly owns 45,913 shares of the company's stock, valued at $1,371,880.44. This trade represents a 27.85 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Caroline Sio-Chin Sheu purchased 1,650 shares of the business's stock in a transaction dated Wednesday, February 26th. The shares were purchased at an average cost of $28.01 per share, with a total value of $46,216.50. Following the completion of the purchase, the director now directly owns 18,291 shares in the company, valued at approximately $512,330.91. This represents a 9.92 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 2.74% of the stock is owned by corporate insiders.

PROG Profile

PROG Holdings, Inc NYSE: PRG is a financial technology holding company based in Salt Lake City, Utah with three business segments: Progressive Leasing, which offers lease-to-own transactions primarily to credit-challenged consumers through e-commerce and point-of-sale retail partners, via online, mobile, and in-store solutions; Vive Financial, which provides consumers who may not qualify for traditional prime lending with a variety of second-look, revolving credit products through private label and branded credit cards; and Four Technologies, which provides consumers of all credit backgrounds Buy Now, Pay Later (BNPL) options through four interest-free installments via its platform, Four.